Global Market Round Up: 08 June 2026

Precious metals ended the week sharply lower as a stronger-than-expected U.S. jobs report prompted investors to reassess the outlook for Federal Reserve policy. After spending most of the week consolidating within a narrow range, gold and silver came under heavy selling pressure on Friday as markets increasingly priced in the possibility of a U.S. interest rate hike before year-end.

The U.S. economy added 172,000 jobs in May, comfortably exceeding expectations of 88,000, while April payroll figures were revised higher to 179,000. The unemployment rate remained unchanged at 4.3%, underscoring the resilience of the labor market despite elevated energy prices and ongoing geopolitical tensions in the Middle East.

The stronger employment data led traders to scale back expectations of policy easing and increased the probability of a December rate hike, with market-implied odds rising to 63% from 48% before the release. In response, the U.S. dollar and Treasury yields moved sharply higher. The Dollar Index climbed to its highest level in nearly two months, while bond yields advanced as investors adjusted to a higher-for-longer interest-rate outlook.

The combination of rising yields and a stronger dollar proved negative for precious metals, reducing the attractiveness of non-yielding assets such as gold and silver. The decline was further amplified by broad-based liquidation across financial markets and increased demand for dollar liquidity.

Crude oil ended the week with gains of more than 3.5%, supported by persistent geopolitical uncertainty in the Middle East and concerns over potential disruptions to global energy supplies. Prices remained elevated for most of the week as investors closely monitored developments in U.S.–Iran negotiations and the broader regional conflict, which continued to keep a risk premium embedded in the market.

However, oil prices retreated sharply on Friday, with WTI crude falling back to the $90 mark as traders booked profits and shifted focus toward weakening demand signals. Sentiment was weighed down by data showing Chinese crude imports fell to their lowest level in a decade, raising concerns that global oil demand growth may slow in the coming months.

Crude oil is likely to remain highly sensitive to developments in the Middle East. While geopolitical tensions continue to provide underlying support, demand-side concerns and progress in diplomatic negotiations could trigger periods of volatility in the weeks ahead.

Market Performance Snapshot